An institution’s viability rests on the aggregate reputation of its members.
Evidence
A bourse’s ability to attract business depends largely on the aggregate reputation of its members for trustworthiness and fair dealing, and a bourse’s economic viability depends, in large part, on its ability to attract foreign dealers to its trading halls. — Lisa Bernestein, Opting out of the Legal System, 205
Categorization
- XREF: connects to: Reputation can inform decisions about personal associations. — Jordan B. Peterson, 12 Rules for Life An Antidote to Chaos, 325; Reputation and institutions are complementary, not substitute, enforcement mechanisms. — PAUL R. MILGRO, PAUL R. MILGRO - THE ROLE OF…, 164; Institutions and traditions persist because they are conspicuous coordination solutions. — Thomas C. Schelling, The Strategy of Conflict, 222 (+4 more)
Broader Connections
- Group reputation for fair dealing drives a trading bourse’s economic viability.
#exemplifies(0.85) - Reputation can inform decisions about personal associations.
#expands(0.78) — Jordan B. Peterson, 12 Rules for Life An Antidote to Chaos, 325 - Economic institutions depend on personal networks that generate trust and enforce norms
#qualifies(0.75) — Coleman, SocialCapitalCreation-1988, 28 - Institutional reputation makes threats more credible than individual threats
#expands(0.75) — Thomas C. Schelling, The Strategy of Conflict, 80 - Reputation and institutions are complementary, not substitute, enforcement mechanisms.
#complicates(0.72) — PAUL R. MILGRO, PAUL R. MILGRO - THE ROLE OF…, 164 - Institutions and traditions persist because they are conspicuous coordination solutions.
#complicates(0.72) — Thomas C. Schelling, The Strategy of Conflict, 222